🚨 BREAKING: Bank of England interest rates: BoE raises interest rates to highest rate since 1989 in face of soaring inflation

Nov 3, 2022

Bank of England interest rates: BoE raises interest rates to highest rate since 1989 in face of soaring inflation

The Bank of England has increase interest rates up 0.75 percentage points, taking rates up from 2.25 per cent to 3 per cent.

It is the biggest single rise in the cost of borrowing since 1989.

Interest rates have been rising since December in an effort to curb rising inflation - with the annual rate of price rises currently running at 10.1 per cent in the UK.

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Interest rates have increased in a bid to control rising inflation



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